Illumina (NASDAQ:ILMN) Price Target Cut to $125.00

Illumina (NASDAQ:ILMN) had its price target cut by JPMorgan Chase & Co. from $130.00 to $125.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the life sciences company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 4.70% from the stock’s previous close.

ILMN has been the topic of a number of other research reports. StockNews.com started coverage on Illumina in a research note on Sunday, June 30th. They issued a “buy” rating on the stock. UBS Group boosted their target price on Illumina from $131.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup upgraded Illumina from a “neutral” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Wednesday, July 10th. Scotiabank dropped their price objective on Illumina from $185.00 to $176.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 6th. Finally, Jefferies Financial Group began coverage on Illumina in a research note on Monday, June 3rd. They issued a “hold” rating and a $115.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Illumina has a consensus rating of “Hold” and a consensus target price of $150.67.

Illumina Stock Up 2.6 %

ILMN stock traded up $3.03 during mid-day trading on Wednesday, reaching $119.39. 2,676,639 shares of the company traded hands, compared to its average volume of 2,112,750. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of -14.60 and a beta of 1.15. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. Illumina has a fifty-two week low of $89.00 and a fifty-two week high of $195.64. The firm’s 50 day moving average price is $111.70 and its 200 day moving average price is $123.25.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities research analysts predict that Illumina will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its stake in Illumina by 23.3% in the second quarter. Daiwa Securities Group Inc. now owns 84,841 shares of the life sciences company’s stock valued at $8,856,000 after acquiring an additional 16,043 shares during the last quarter. Andra AP fonden bought a new position in Illumina in the second quarter valued at $741,000. Royal London Asset Management Ltd. increased its stake in Illumina by 0.4% in the second quarter. Royal London Asset Management Ltd. now owns 62,527 shares of the life sciences company’s stock valued at $6,527,000 after acquiring an additional 267 shares during the last quarter. United Services Automobile Association bought a new position in Illumina in the second quarter valued at $1,792,000. Finally, Choreo LLC bought a new position in Illumina in the second quarter valued at $503,000. Institutional investors own 89.42% of the company’s stock.

About Illumina

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.